Public Communication explaining the main changes contained in the Agreement In Principle on the Modernisation of the Energy Charter Treaty (ECT) - 24 June 2022
ENERGY CHARTER SECRETARIAT
CCDEC 2022 10 GEN - Brussels, 24 June 2022
DECISION OF THE ENERGY CHARTER CONFERENCE
Subject: Public Communication explaining the main changes contained in the agreement in principle
The Energy Charter Conference at its Ad Hoc Meeting held on 24 June 202 2 approved the attached Public Communication explaining the main changes contained in the agreement in principle on the modernisation of the ECT.
Keywords: Modernisation, Agreement in Principle
Finalisation of the negotiations on the Modernisation of the Energy Charter Treaty
The Contracting Parties of the Energy Charter Treaty (ECT) have today reached an agreement in principle, thus concluding the negotiations for a modernised ECT. After the completion of an editorial and legal review, the draft text will be communicated to the Contracting Parties by 22 August 2022 for adoption by the Energy Charter Conference on 22 November 2022. Thereafter, the modernised ECT will enter into force 90 days after the ratification by three-fourths of the Contracting Parties. The agreement in principle is without prejudice regarding its final assessment by the Contracting Parties.
How the Agreement in Principle was reached
In November 2017, the Energy Charter Conference confirmed in Ashgabat, Turkmenistan, the launching of a discussion on the potential modernisation of the ECT. After consultations in early 2018, Contracting Parties agreed to address a specific list of topics (CCDEC2018 18).
In Autumn 2019, the Conference approved (CCDEC2019 08) some suggested policy options for each of the agreed topics and the mandate for the Modernisation Group to conclude negotiations expeditiously (CCDEC2019 10).
After the formal start of the negotiations in July 2020, the Modernisation Group held 15 rounds of negotiations, 12 of which were held via videoconference, 2 in hybrid mode and one in person due to pandemic-related travel restrictions (for public summaries of each round see here).
Summary of the main achievements of the negotiations
Pending the completion of an editorial and legal review of the text, the following summary presents, in a non-exhaustive manner, the main outcome of the negotiations but does not by any means constitute a legal text. Once the final text for the modernisation of the ECT is confirmed by the conference on 22 November 2022 (see above), it will be immediately published.